President Bola Tinubu has removed Dr. Doris Uzoka-Anite as Minister of State for Finance and appointed Mr. Taiwo Oyedele as her replacement, following a dramatic cabinet reshuffle that has stirred political debate in Abuja. The decision came exactly one week after a tense budget defence session at the National Assembly, where Hon. Alex Mascot Ikwechegh questioned the Finance Ministry over ₦1.15 trillion in approved capital funds that allegedly remain undistributed, with capital projects reportedly recording zero percent execution.
During the hearing, Ikwechegh, a member of the House Committee on Aids and Loans, presented documents detailing multiple external borrowings and funding approvals, including billions of dollars earmarked for digital infrastructure, economic stimulus, MSME support, and energy transition projects. He queried why, despite these approvals and strong revenue performance from agencies such as FIRS and Customs, capital projects had not been funded. When pressed, Minister of Finance Wale Edun reportedly shifted responsibility for disbursement matters to the Minister of State, Uzoka-Anite, who later confirmed that the ₦1.15 trillion had been approved but cited unmet pre-disbursement conditions by ministries.
However, when asked to name any ministry that had fulfilled all conditions yet did not receive funding, the minister was unable to provide specifics, intensifying concerns among lawmakers. Ikwechegh warned that if any infraction was established, it could amount to misappropriation of public funds.
On March 3, a statement by presidential spokesman Bayo Onanuga announced Uzoka-Anite’s redeployment to the Ministry of Budget and National Planning as Minister of State, marking her third portfolio in two years. She is to be replaced by Taiwo Oyedele, a tax expert and former chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, pending Senate confirmation.
While the presidency did not directly link the reshuffle to the budget hearing, the timing has fueled speculation. Observers note that the key question raised during the session—regarding the whereabouts and status of the ₦1.15 trillion in approved capital funds—remains unresolved, even as the cabinet adjustment signals potential shifts in fiscal oversight.
